Rapid Revenue and Profit Growth of JD Logistics Driven by China's Market Momentum
In the first half of 2025, JD Logistics Inc. experienced significant growth and improved profitability while continuing its global expansion efforts. The company reported sales of CNY 98.53 billion (approximately $14.3 billion) for the six months ended June 30, 2025, marking an increase from CNY 86.34 billion a year earlier.
The growth was driven by the company's expansion in the China market, an increase in both the customer base and spending per customer for its integrated supply chain (ISC) solutions business. Revenue from the ISC solutions reached 50.1 billion yuan, or over half of the total, with a 19.9% year-on-year increase. The average revenue per customer from external ISC customers amounted to around 239,000 yuan.
JD Logistics' goods-to-person (GTP) automated warehousing solution, named "Zhilang," is deployed at some warehouses to enable high-volume order fulfillment and largely unmanned operations. The company's external ISC user base grew to 73,713 customers, up 14.5%.
Technology continues to play a pivotal role in elevating JD Logistics' service efficiency. In the first half of the year, the company expanded its network of self-owned warehouses across the U.S., Britain, Saudi Arabia, Korea, Vietnam, and other markets. JD Logistics further strengthened its end-to-end solutions for the shipment of fresh products and achieved rapid growth in the Hong Kong and Macao markets.
Regarding global expansion, JD.com is enhancing its logistics network with approximately 1.3 million square meters of warehouse space globally. The company launched a third warehouse in Warsaw, Poland, and an operations center in Hong Kong.
JD Logistics also made strides in last-mile delivery services. In the second quarter, the company began recruiting and managing full-time riders for JD Food Delivery to achieve greater synergies and efficiency with its last-mile express services. JD Logistics further expanded its offerings with the launch of JoyExpress, a self-operated B2C express delivery service, in Saudi Arabia in June. The service includes value-added features such as temporary return storage.
The company posted a non-IFRS profit of 3.3 billion yuan in the first half of the year, up 7.1% year-on-year. On a quarterly basis, JD Logistics reported revenue of 51.6 billion yuan in the three months to June, up 16.6% year-on-year, and a quarterly non-IFRS profit of 2.6 billion yuan, up 5.4% over the prior year.
CEO Hu Wei attributed the company's first-half growth to China's economy maintaining steady and positive momentum and continuous capability strengthening. The company continues to actively expand its global footprint, with a logistics footprint now covering hundreds of countries and regions worldwide.
In summary, JD Logistics Inc. showed strong revenue growth, improved net income, and active global logistics expansion in the first half of 2025, while managing profitability trade-offs amid continued investments in strategic business areas.
- The growth experienced by JD Logistics Inc. in the first half of 2025, which was driven by various factors such as an increase in customer base, spending per customer, and revenue from integrated supply chain (ISC) solutions, as well as investments in technology and strategic business areas, is indicative of the company's strategic navigation within the industry, finance, and technology sectors.
- JD Logistics' progress in last-mile delivery services, including the launch of JoyExpress in Saudi Arabia and the recruitment of full-time riders for JD Food Delivery, underscores the company's ambition to dominate the business landscape, not only in China but also globally, particularly in areas where finance, technology, and logistics intersect.
